On 28 October 2021, the Financial Action Task Force published its updated guidance for a risk-based approach for virtual assets and virtual asset service providers. XReg Consulting has prepared a detailed explainer of the new Travel Rule requirements. Read our Travel Rule explainer here.
MEPs proposed amendments to MiCA will significantly impact the formation of the final compromises and the Parliament's position in the upcoming Trilogue negotiations.
FATF recently launched a project to study and mitigate unintended consequences from the incorrect implementation of its Standards, including financial exclusion and de-risking.
FATF published its draft revised guidance for VAs and VASPs for public consultation in March 2021. As proposed, the guidance may be interpreted and implemented in an inconsistent manner potentially giving rise to regulatory arbitrage and resulting in other unintended consequences.
The FATF Virtual Asset red flag indicator report provides valuable insights to support the identification and prevention of ML/TF in the virtual asset industry. Read our high-level summary to understand the contents of the FATF's report.
The European Commission's proposed Regulation on Markets in Crypto-assets (MiCA) will bring within the scope of regulation all crypto-assets not already covered by EU financial services legislation.
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